The sun. [volume] (New York [N.Y.]) 1833-1916, 1887-10-09
NEW YoRK'S REAL ESTATE.
TIE vhLUB or HOUSES AND TIE nv
COME THEY AFFORD THE OWNERG

vyhe trio Owners Are-Vanue ef the Large
E.tates-su,nii -nistrtbution OF
tho Rents what the Taxes Fsy For.
There are $4,000 acres Of land in the city Of
New York. Estimating at fourteen lots 10 the
acre. an estimate that will give room for the
streets, and subtracting 5000 acres for pub
lie parks and squares there will be $4,000
building lots In the remainder. At ten persons
to each lot that would give room for 100000
Inhabitants. We crowd IN average OF much
moro than ten persons to the lot In some places.
But We ought not to do Il when II is seen that
we have not yet reached half our possible
stature oven II we preserve the conditions for
4 natural and healthful growth. We can double
the area Of the city. too. at the north end WITH
put adding moro than three or four miles to its
longitudinal extent. No man. then. should
feel any sense Of suffocation for many years to
some. nor think 1t necessary to locate In some
adjacent county.
But tho present generation can find more in
struction in studying what We are than In
specializing on what we may become. The
nssessed value OF real estate for the year 1887
Is S1,254, 491, $40. and tho total number OF
rieces of property assessed reaches 1911 In
GLIDING parcels divided and undivided into
city lots This is interesting. but It would be
more instructive to know the number OF fndi-
yidual landholders. This information cannot
be exactly obtained. however. without labor
that It would be hardly practicable to attempt.
The names appearing on the tax records do
not always represent owners. About one
third Of the Aston estate, for example. is held
under leasehold titles, the lessee taking pos
session Of the promises for term OF years and
stipulating to make all the improvements and
to pay the taxes. The remaining large
estates are hold In about the same pro-
portion under corresponding tenure.
Large parcels again, are being continually
sold Off to new buyers who and psrnnsse
their titles sometimes within q few days.
weeks or months after coming into possession on
se Tsass and
ments; and SO those gentlemen have adopted
5 soS Of h sy @ asSs hi q as
whoever is willing 70 stand sponsor and no
ssked the Of
ton; bit for statistical purposes I q q no
We mot ths
perfect than 4 might be made were the De-
cise little greater care in bookkeeping. IT will
be better than none.
small army, and Of the total number Of new
bs in the city saS
houses for single families, fats, and tenement
rhs .se@
'2e ISport s & tSe Badns shss
humber nut Of new ' Buildings erected Alter these
some the fiats. and tenement houses names
ciatare. but meaning houses for the use Of
several families and grohably depending S ding
tion. They number at least another two fifths
OF the new buildings, and in the new east side
Swn they be shs
usually double buildines. with no store , on the
from nor. e rear These IN SaildInss ranging
extensively bought BY thrifty Germans and
who wish to ana ScS1pK one sn suite
the remainins suites to tenants The easy
terms on which the Buildings are offered N make
down. the remainder being, allowed to remain
on mortgage easily carried. and more than
now lat districts s own more es than one building
and II is also regarded as q good field for large
and tenement, house properly goes into the
y helps IN the already large army
This e the situation in the newly built dis
Of te h S
city But the down town tenement hoHses are are
%
fly corporation is considerable holder In ten
family estates have also q small interest IN
this description OF realty; but the downtown
own only the buildings. which. they them.
selves in part occupy About the only break
Md ss aslSsdn 81 ss q oSna on
those streets which, from one cause or
s RShs have tssss be 5
TSsrs: yRs tie bSiIdinEs ssl!i remain il tSsIr
Unusual. Where ono building, new or old.
,passes under the control OF the largo os:a:es.
Th 9 s
increase In the number Of small holders is very
n es prse
Place It VII be safe to essimste the number
real property, or 100000 approximately.
WITH REGARD to The status IT. q the large estates
sss s
to the mass Of their fellow citizens they are not
al
n the popular Gonsepon and ss
land monopeiists in New York: All estates are
held for profit; and the property Is for sale as
the interest Of the holder to make improve:
Inents. too. as fast as they can be utilized; and
ienee demands Improvement. It Is a Sign
rather that he lacks the spirit OF q monop9lst,
though 2 very unusual state Of mind. The
tage to the city. The chief e1ploitss Of
be In church building. and their
4 bensacencs at this work , has been
city; but they have made some substantial
local improvements. and II in this work they
have pushed other investors into new localities,
cannot be said that their operations have
two improvements where we might have had
but one. The Same may be said with regard
TO the Astor estate. Many OF the most sub
stantial buildings In the city belong to this
estate. and II the ground which they occupy
would have been filled up by other builders
had they not been constructed by the Astors.
there would be other unimproyed places which
are now improved The world Is wide. and
enterprise in this city is irrepressible., The
great estates. too. are being distributed by o
natural process. The families BY whom they
than the property, SO that the bugbear OF
monopoly Is very harmless apparition.
On account of its relation to the communistic
discussion of the times, an estimate on the pro;